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India's IT-BPO market may touch $285 billion in 2020: Report

Published & Updated as on - 2010-02-17


India's IT-BPO market (including exports) could touch USD 285 billion in 2020 growing at a CAGR of 15 per cent, according to a report.

The IT-BPO industry in India has achieved impressive growth rates over the past decade and stood at $71.6 billion in 2009, said the report prepared by KPMG and ASOCIO (Asian-Oceanian Computing Industry Organisation).

The report, `Asia-Oceania Vision 2020: Enabling IT Leadership Through Collaboration' was released here today at NASSCOM India Leadership Forum 2010.

India is the current market leader in global sourcing supply, serving approximately 51 per cent of overall global sourcing demand.

"India is expected to achieve double-digit growth in the IT-BPO industry, with a focus on innovation. The country, however, needs to sustain cost competitiveness and develop the requisite skills of its large workforce," Kumar Parakala, Global Head of Sourcing Advisory, KPMG in India, said.

"India could also develop complementary skills in hardware, so that it can showcase a more diversified portfolio of products and services."

The report highlighted that the composition of demand will undergo a change from 2008 to 2020. The contribution of some of the developed countries like Japan, Australia and New Zealand in the regional demand for IT-BPO service is likely to decrease.

However, the contribution of developing countries like India and Thailand is expected to increase in the coming years. Countries such as Sri Lanka, Pakistan and Bangladesh are also expected to make their mark on the global sourcing supply landscape by 2020, it said.

According to NASSCOM, the Indian IT-BPO industry should aim to drive innovation, in addition to retaining its competitiveness. In order to successfully achieve its goal, key stakeholders of the Indian IT-BPO industry need to address the issues currently faced by the industry.

One of the focus areas of the KPMG-ASOCIO report was to identify the potential for effective collaboration among countries of the Asia-Oceania region. The report emphasises that if diversity within the region is effectively leveraged it could lead to collaborative growth.

Collaboration is likely to act as a facilitator for nations to address common challenges, leverage each others' competitive advantage and thereby aim for a much larger target market in the Information, Communication and Technology (ICT) industry by 2020, it said.

"ICT based transformation would be a major enabler of socio-economic transformation of Asia. We foresee an emergence of a diverse set of globally competitive IT organisations in the region, which would be the key enablers of this IT-based transformation," ASOCIO President Ashank Desai said.

Even as total demand for global sourcing services is expected to grow by 4.9% every year from 2008 to 2020, demand from Asia-Oceania countries may grow by around 7% every year in the same period.

This will take the contribution of Asia-Oceania countries in the total global sourcing demand from 20% in 2008 to around 26% by 2020, the report said.

On the supply-side too, Asia-Oceania is expected to dominate the global services sourcing industry. The share of countries in the region is likely to reach around 74.5% in 2020, from around 73.1% in 2008.

While most economies are struggling with recession, Asia-Oceania nations have already started experiencing an upturn, it said. ICT is being used as a key enabler for growth, which is helping these economies move out of the downturn at a faster pace, the report said.

"ICT-led growth is expected to push Asia-Oceania to greater heights, with some economies of the region achieving superpower status by 2020," added Kumar Parakala.

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